David Berry Hearing Set for December 10

The hearing into David Berry’s preferred share trading practices originally set for October 29, then postponed has now been rescheduled for December 10 after a rather cryptic ruling on disclosure.

Readers will remember that this case revolves around some fairly minor rule violations that Mr. Berry is alleged to have committed during the course of his employment. Following a contract dispute, Scotia was shocked shocked to discover that rule violations took place.

Mr. Berry’s assistant has settled with RS.

Mr. Berry is suing Scotia for $100-million for unjust dismissal; he is seeking to show that any rule violations are due to inadequate training and supervision. If he can prove this, his case for $100-million becomes a lot stronger; if he can’t prove this, Scotia’s case that firing is an appropriate remedy for the shocking shocking behaviour becomes a lot stronger.

RS is just being used as a pawn here. It’s disgraceful and brings the regulatory system into disrepute. In this particular case, it’s clear from the picayune nature of the allegations that regulation is not being used to protect the marketplace; it’s being used to ensure that everybody is guilty of something.

One Response to “David Berry Hearing Set for December 10”

  1. […] The David Berry Saga was last reported at PrefBlog on December 12. Readers will remember that I am not impressed by Scotia’s business¬†practices or by Regulation Service’s eagerness to be used as a negotiating tool. […]

Leave a Reply

You must be logged in to post a comment.